That should be fine, I've controlled a PWM fan like that, I think it was an Arctic F12 pwm too. Bear in mind that the Intel PWM spec only guarantees that fans will run from 30% pwm to maximum. Also, if you drive the fan PWM input from an NPN transistor or N-channel mosfet (the easiest way), then the PWM works in inverse mode, i.e. the more the Arduino output pin is high, the slower the fan speed.